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Electric Kick Scooter Market Size, Trends, Strategies, And Outlook By 2024-2033
Electric Kick Scooter Market
Electric Kick Scooter Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $4.86 billion In 2028 At A CAGR Of 11.9%.
The electric kick scooter market size has grown rapidly in recent years. It will grow from $2.74 billion in 2023 to $3.1 billion in 2024 at a compound annual growth rate (CAGR) of 13.1%. The growth in the historic period can be attributed to last-mile transportation solution, urbanization, environmental sustainability, government initiatives and regulations, consumer demand for tech-enabled mobility.
The electric kick scooter market size is expected to see rapid growth in the next few years. It will grow to $4.86 billion in 2028 at a compound annual growth rate (CAGR) of 11.9%. The growth in the forecast period can be attributed to innovation in design and features, expansion of micro-mobility services, evolving infrastructure support, integration with public transportation, rising concerns about air quality. Major trends in the forecast period include expansion of micromobility services, integration of smart technologies, enhanced battery technologies, collaborations with ride-hailing services, customization and personalization.
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Electric Kick Scooter Market Major Segments
The electric kick scooter market covered in this report is segmented -
1) By Type: Foldable Kick Scooters, Off-Road Kick Scooters, All-Terrain Kick Scooters, Three-Wheel Kick Scooters, Other Types
2) By Battery Type: Sealed Lead Acid (SLA), Lithium Ion (Li-Ion), Other Battery Types
3) By Voltage: Less Than 25V, 25V To 50V, More Than 50V
4) By Application: Personal, Rental
5) By End User: Kids, Adults
Key Driver - The Electric Kick Scooter Market Gains Traction Amidst The Soaring Popularity Of Electric Vehicles
The surge in popularity of electric vehicles is expected to boost the growth of the electric kick scooter market going forward. An electric vehicle (EV) refers to a vehicle that can move forward using an electric motor that draws power from a battery and can be externally charged. Electric kick scooters are preferred over other electric scooters as they are safe, practical, simple to use, and environmentally beneficial. For instance, in April 2021, according to the International Energy Agency, a France-based international organization that provides research, data, and policy suggestions for the world's energy sector, global sales of electric vehicles surged by over 140% in the first quarter of 2021 compared to the same time in the previous year. Therefore, the surge in the popularity of electric vehicles is driving the growth of the electric kick-scooter market.
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Prominent Trend - Technology Strides In Electric Kick Scooter Market
Technological innovations are the key trend gaining popularity in the electric kick scooter market. Major companies operating in the electric kick-scooter market are focusing on developing new technologies to sustain their position in the market. In September 2023, NIU, a China-based electric kick scooter company, launched two unique and innovative carbon fiber scooters, the KQi Air X and the KQi Air. The revolutionary carbon fiber scooters will revolutionize the ultra-light electric scooter market, setting new industry norms while demonstrating NIU's dedication to quality, innovation, and sustainability. The KQi Air X weighs just 25.8 pounds and has a 100% carbon fiber frame, whereas the KQi Air weighs 26.2 pounds and has a carbon fiber (70%) and magnesium (30%) frame. With a top speed of 20 mph, a range of 31 miles, and a maximum power of 700 watts, the lightweight scooters will provide a fun and efficient ride, whether zipping through traffic, riding about town, or climbing hills with a 20% hill climb.
Electric Kick Scooter Market Players
Major companies operating in the electric kick scooter market report are Accell Group, Trek Bicycle Corporation, Jiangsu Xinri E-Vehicle Co Ltd., YADEA Technology Group Co Ltd., Rad Power Bikes, Govecs AG, Xiaomi Corporation, Segway Inc., Razor USA LLC, Swagtron, Blix Electric Bikes, Dualtron, iconBIT Ltd., Gyroor, E-TWOW Scooters, Globber Scooters, Hiboy, NIU Technologies, Inokim Inc., Apollo Scooters Co., GOTRAX, Levy Electric Scooters, Kaabo, EMOVE, Evercross, Evolv Rides, Fiido, Fluid Freeride, Gpad, Zhejiang Okai Vehicle Co. Ltd.
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Largest And Fastest Growing Region In The Market
Europe was the largest region in the electric kick scooter market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the electric kick scooter market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Electric Kick Scooter Market Report Structure
3. Electric Kick Scooter Market Trends And Strategies
4. Electric Kick Scooter Market - Macro Economic Scenario
5. Electric Kick Scooter Market Size And Growth
…..
27. Electric Kick Scooter Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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